The market for renting products has gained much popularity in recent years. Today, consumers can rent nearly anything, from kitchen appliances and furniture, to clothes and outdoor gear. The market is only expected to grow and expand. But what — or who — is driving the expansion?
Behind all this growth is a generation of super-renters who “are pretty much in their late 20s, or early 20s and 30s. And they tend to live in cities, they’re college-educated, and they want nice stuff, but they don’t want to buy it,” said New York Times business reporter Sapna Maheshwari in an interview with Marketplace.
“The reasons that people are renting this kind of stuff vary. But, for the most part, they really want access to nice items — whether it’s furniture or designer clothing. But they don’t want the credit card debt attached to that, and they don’t want to pay full-price for it,” Maheshwari said.
Click the audio player above to hear the interview.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?